March 7, 2019 / TheNewswire / Toronto, ON – RIWI Corp. (CSE: RIW) (the “Company” or “RIWI”), a global trend-tracking and prediction technology firm, reported its audited annual financial results for the year ended December 31, 2018.

 

The Company’s financial results are highlighted by its continued 2018 revenue growth trend, generating over US$350,000 in revenue in the first quarter of 2018, over US$680,000 in the second quarter of 2018, and more than US$800,000 in each of the third and fourth quarters of 2018.

 

RIWI is pleased to report a profitable year ended December 31, 2018, as the Company focused on repeat and recurring sales along with rigorously reviewing the return-on-investment of all its expenditures.  RIWI generated net income of US$417,000 during the year ended December 31, 2018, a positive income growth of US$1,163,000 compared to its 2017 annual results.  RIWI also generated net cash from operating activities of $317,494 during the year ended December 31, 2018 – compared to using net cash in its operations of $107,814 in 2017.

       

“Our 2018 goal was to increase our long-term contracts and recurring revenues across all our business lines in order to achieve strong year-over-year revenue growth and profitability in 2018.  Our amazing team achieved this goal in 2018,” said Neil Seeman, RIWI’s Chief Executive Officer.

 

“RIWI seeks to ensure strong revenue and profit growth year-over-year through the increased diversification of our client base, an increased proportion of our revenues that are recurring in nature, access to new clients in new markets, and an increased diversity of product offerings,” he added.

 

RIWI’s Audited Annual Financial Statements and Management Discussion and Analysis for the years ended December 31, 2018 and 2017, are available via RIWI’s website at https://riwi.com and on SEDAR at www.sedar.com.

 

About RIWI

 

RIWI is a global trend-tracking and prediction technology firm.  On a monthly or annual subscription basis, RIWI offers its clients tracking surveys, continuous risk monitoring, predictive analytics and ad effectiveness tests in all countries.  https://riwi.com.

 

RIWI CORP.

 

Signed: “Neil Seeman”

Neil Seeman, Chief Executive Officer

For more information, please contact:

Daniel Im, Chief Financial Officer

danielim@riwi.com | 1 416 205 9984 ext. 2

 

CAUTION REGARDING FORWARD-LOOKING INFORMATION:

Information and statements contained in this news release that are not historical facts are “forward-looking information” within the meaning of Canadian securities legislation that involves risks and uncertainties.  Forward-looking information included herein is made as of the date of this news release and RIWI does not intend, and does not assume any obligation, to update forward-looking information unless required by applicable securities laws.  Forward-looking information relates to future events or future performance and reflects management of the Company’s expectations or beliefs regarding future events.  This forward-looking information is based, in part, on assumptions and factors that may change or prove to be incorrect, thus causing actual results, performance or achievements to be materially different from those expressed or implied by forward-looking information.